Many economists are forecasting a global economy recession in 2023, but recent data shows slowing inflation and predicts a light to moderate recession in 2023.
Flight operations in 2022 were about 12 percent above 2021 levels and nearly 18 percent above 2019 levels, demonstrating a higher rate of increasing demand than pre-COVID levels.
Aircraft Manufacturers backlog
OEMs had a strong year in 2022 with historically normal order levels and a high number of deliveries in Q4 2022, resulting in a decline in the book-to-bill ratio from Q2-Q3 2022.
Pre-owned transaction levels are still higher than pre-COVID levels, although experienced a volume decline of about 15% in 2022 compared to 2021.
It's still a seller's market for business aircraft, but recent data shows that inventory levels are gradually rising. Listings in 2022 were 6% lower than in 2019, but 24% higher than in 2021.
With high demand and low supply, business jet values increased in Q4 2022. There are signs that the market is beginning to normalize as more inventory is leading to more price negotiations.